Top 10 tax-saving MFs of the last 5 years and their top holdings
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Taking Stock
ETMarkets analysed the top ten equity-linked saving schemes (ELSS) from the past five years, all of which have delivered impressive CAGR exceeding 15%. A majority of these funds have shown strong inclinations towards sectors such as financials, technology, automobiles, and energy. These tax-saving MFs essentially function as equity-linked saving schemes, providing investors with tax advantages under Section 80C of the Income Tax Act of 1961. We delved deeper into each of these high-performing schemes, shedding light on their leading holdings in terms of market value and performance over the past year. (Data Source: ACE MF, ACE Equity)
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Quant Tax Plan(G) | 5-year CAGR Return: 24%
Fund Size: Rs 4,458 crore | NAV as of September 27, 2023: Rs 276.07
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Bank of India Tax Advantage Fund-Reg(G) | 5-year CAGR Return: 20%
Fund Size: Rs 837 crore | NAV as of September 27, 2023: Rs 119.71
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JM Tax Gain Fund(G) | 5-year CAGR Return: 17%
Fund Size: Rs 88 crore | NAV as of September 27, 2023: Rs 34.42
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Bandhan Tax Advt(ELSS) Fund-Reg(G) | 5-year CAGR Return: 17%
Fund Size: Rs 4,864 crore | NAV as of September 27, 2023: Rs 119.18
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Mirae Asset Tax Saver Fund-Reg(G) | 5-year CAGR Return: 17%
Fund Size: Rs 17,174 crore | NAV as of September 27, 2023: Rs 35.82
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DSP Tax Saver Fund-Reg(G) | 5-year CAGR Return: 17%
Fund Size: Rs 11621 crore | NAV as of September 27, 2023: Rs 96.53
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Kotak Tax Saver Fund(G) | 5-year CAGR Return: 16%
Fund Size: Rs 4031 crore | NAV as of September 27, 2023: Rs 87.45
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SBI Long Term Equity Fund-Reg(IDCW) | 5-year CAGR Return: 16%
Fund Size: Rs 14610 crore | NAV as of September 27, 2023: Rs 294.10
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Union Tax Saver (ELSS) Fund(G) | 5-year CAGR Return: 16%
Fund Size: Rs 661 crore | NAV as of September 27, 2023: Rs 49.37
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Canara Rob Equity Tax Saver Fund-Reg(IDCW)
Fund Size: Rs 5736 crore | NAV as of September 27, 2023: Rs 40.64